People
&Markets
UBS first to raise China stake
Swiss bank applies for 51% after China confirms new rules
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KEN WANG, STEVE GARTON
TOP STORY PEOPLE AND MARKETS
NET PROFIT/LOSS OF JV BROKERAGES PART OWNED BY FOREIGN BANKS IN 2017
Goldman Sachs Gao Hua Securities 66.
UBS Securities 40.
Credit Suisse Founder Securities 26.
Zhong De Securities 118.
Morgan Stanley Huaxin Securities -69.
Citi Orient Securities 188.
Total 370.
Currency: Renminbi (million)
Sources: Securities Association of China
“The further opening up
of China’s financial sector
represents great opportunities
for our China businesses,
including investment banking,
wealth management and asset
management.”